Money blog + Bradford & Bingley | The Guardianhttp://www.theguardian.com/money/blog+business/bradfordbingley
Indexen-gbGuardian News and Media Limited or its affiliated companies. All rights reserved. 2015Tue, 03 Mar 2015 22:37:30 GMT2015-03-03T22:37:30Zen-gbGuardian News and Media Limited or its affiliated companies. All rights reserved. 2015The Guardianhttp://assets.guim.co.uk/images/guardian-logo-rss.c45beb1bafa34b347ac333af2e6fe23f.pnghttp://www.theguardian.com
Co-op Bank: it's time to go back to the mutualshttp://www.theguardian.com/money/blog/2012/jul/20/coop-bank-back-to-mutuals
Demutualisation was a disaster. Only two of the former societies – Woolwich and A&amp;L – have not required a taxpayer handout<p>Demutualisation. It didn't work, really, did it? Take the Cheltenham &amp; Gloucester. For 145 years it ran, rather successfully, as a mutual building society. Then over 17 years, roughly coinciding with the credit boom and bust, it was gobbled up by Lloyds for &pound;1.8bn, which, after (rather unhappily) acquiring Halifax, merged it into a supersize mortgage lender. Now it's returning to its mutual roots, albeit under the control of the Co-op Bank.</p><p>Who benefited from the financial shenanigans? Let's follow the money. First, the members of the society and the carpetbaggers who swept in ahead of the demutualisation picked up an average of &pound;2,200 a head. But the bosses did rather better. The chief executive of C&amp;G saw his salary increase from &pound;333,720 to &pound;400,000 to &quot;reflect his involvement with Lloyds&quot;. In addition, he was awarded a &quot;senior management&quot; deal said to be worth a further 40%.</p> <a href="http://www.theguardian.com/money/blog/2012/jul/20/coop-bank-back-to-mutuals">Continue reading...</a>Banks and building societiesMoneyCo-operative GroupBankingLloyds Banking GroupBradford & BingleyNationwideBusinessFri, 20 Jul 2012 06:30:00 GMThttp://www.theguardian.com/money/blog/2012/jul/20/coop-bank-back-to-mutualsLuke Macgregor/ReutersIn 2000, Bradford and Bingley was the last major demutualisation. Photograph: Luke Macgregor/ReutersLuke Macgregor/ReutersIn 2000, Bradford and Bingley was the last major demutualisation. Photograph: Luke Macgregor/ReutersPatrick Collinson2012-07-20T06:30:00ZMortgage advice and spending tips from out of the blue? Scaryhttp://www.theguardian.com/money/blog/2011/aug/31/mortgage-advice-spending-tips
UK Asset Resolution is cold calling some Bradford &amp; Bingley and Northern Rock mortgage borrowers and offering advice on how to manage their personal finances<p>According to the <a href="http://www.yorkshirepost.co.uk/business/business-news/get_rid_of_sky_tv_bank_warns_hard_up_borrowers_1_3724426" title="Yorkshire Post: Get rid of Sky TV, bank warns hard-up borrowers ">Yorkshire Post</a>, they're telling homeowners to give up Sky; according to today's Daily Mail, it's &quot;<a href="http://www.thisismoney.co.uk/news/article-2031934/Banks-warn-home-owners-cut-spending-risk-losing-house.html" title="Daily Mail: Now banks ring up their cash-strapped customers to warn them: 'Ditch mobiles and gym membership or lose your home' ">mobile phones, gym memberships and even socialising</a>&quot; that are getting attention. Either way news that the company managing Bradford &amp; Bingley and Northern Rock's mortgages is ringing up borrowers to give them spending tips has stirred up controversy.</p><p></p> <a href="http://www.theguardian.com/money/blog/2011/aug/31/mortgage-advice-spending-tips">Continue reading...</a>MortgagesMortgage arrearsBorrowing & debtMoneyBradford & BingleyNorthern RockBankingBusinessUK newsWed, 31 Aug 2011 13:21:54 GMThttp://www.theguardian.com/money/blog/2011/aug/31/mortgage-advice-spending-tipsGettyReceiving a call from your mortgage lender on how to save a bit of money can come as a shock. Photograph: GettyGettyReceiving a call from your mortgage lender on how to save a bit of money can come as a shock. Photograph: GettyHilary Osborne2011-08-31T13:21:54Z